Pasadena CA Real Estate

READ: Why Oil Prices Will Drop BELOW $100/ Barrel in 2009

Why? I think the rising ARM rates suggest that traders believe, in their hearts, that the Fed will tighten before Thanksgiving. I’m more about mitigating risk rather than pouncing on opportunity so when I’m confused, I lock mortgage rates. Maybe the descent in oil prices will continue and mortgage rates decline further but “I ain’t seeing it” from my ivory tower.

Pasadena Mortgage rates for August 15, 2008. Loan amounts up to $417,000:

3/1 ARM 5.750%

5/1 ARM 5.750%

7/1 ARM 6.000%

10/1 ARM 6.250%

30 Yr Fixed 6.375%

All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and rate lock advice are available by calling (858)-777-9751.

MORTGAGE RATE TREND:

Next 7 days: Neutral

Next 30 days: Neutral

Next 3 months: Neutral

Originally posted on MillionaireRealEstateLender.com